An account of new developmentalism and its structuralist macroeconomics

Resumo

This is a personal account of the definition of 'new developmentalism'- a national development strategy alternative to the Washington consensus -, and of a 'structuralist development macroeconomics': the sum of models that justifies theoretically that strategy. It is personal account of a collective work involving Keynesian, institutionalist and structuralist economists in Brazil that are forming a new school of thought in Brazil: a Keynesian-structuralist school. It is Keynesian because it emphasizes the demand side or the investment opportunities' side of economic growth. It is institutionalist because institutions obviously matter in achieving growth and stability. It is structuralist because it defines economic development as a structural change from low to high value added per capita industries and because it is based on two structural tendencies that limit investment opportunities: the tendency of wages to grow below productivity and the tendency to the cyclical overvaluation of the exchange rate.

Ficha do documento

Tipo

Artigo científico

Ano

2011

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso aberto

DOI

10.1590/S0101-31572011000300010

Identificador

oai:repositorio.fgv.br:10438/24971

Temas

EconomiaDesenvolvimento Econômico

Palavras-chave

DevelopmentalismHistory of economic thoughtMacroeconomicsStructuralismEconomiaEconomia keynesianaEconomia institucionalMacroeconomiaDesenvolvimento econômico